Waiver of Waiting Period Clause Samples
A Waiver of Waiting Period clause eliminates or shortens the standard time that must pass before certain rights or benefits under a contract become effective. In practice, this means that parties can access services, payments, or coverage immediately or sooner than usual, rather than waiting for a predefined period to elapse. This clause is particularly useful in insurance or service agreements, as it accelerates the availability of benefits and addresses the need for prompt action or support.
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Waiver of Waiting Period. Employee understands and agrees that he has the opportunity to consider this Agreement for a full twenty-one (21) days from its receipt and that he did not execute this Agreement without first being advised in writing to consult with an attorney. By signing on any date prior to the expiration of the twenty-one (21) day period, Employee voluntarily elects to forego waiting twenty-one (21) full days to sign this Agreement.
Waiver of Waiting Period. With respect to each Hired Employee and Special Jurisdiction Transferred Employee, the Purchaser shall use commercially reasonable efforts to waive all waiting periods and pre-existing condition exclusions for group health and dental coverage and shall give appropriate credit for all co-payments and deductibles paid or accrued under the Seller’s employee benefit plans for the plan year in which the Closing occurs.
Waiver of Waiting Period. With respect to each Hired Employee and Special Jurisdiction Employee, Purchaser shall use commercially reasonable efforts to waive all waiting periods and pre-existing condition exclusions for group health and dental coverage and shall give appropriate credit for all co-payments and deductibles paid or accrued under Seller's and its Affiliates' employee benefit plans for the plan year in which the Closing occurs. 7.5 W-2/Payroll Matters. Seller and Purchaser shall adopt the "standard procedure" for preparing and filing IRS Forms W-2 (Wage and Tax Statements), as described in Revenue Procedure 2004-53, with respect to each Hired Employee. In addition, Seller and Purchaser shall adopt the "standard procedure" of Revenue Procedure 2004-53 for purposes of filing IRS Forms W-4 (Employee's Withholding Allowance Certificate) and W-5 (Earned Income Credit Advance Payment Certificate). Under this procedure, Seller shall keep on file all IRS Forms W-4 and W-5 provided by the Hired Employees for the period required by applicable law concerning record retention and Purchaser will obtain new Internal Revenue Service Forms W-4 and W-5 with respect to each Hired Employee. 7.6 Employee Communications. Prior to making any written or oral communications to the Vuforia U.S. Employees or the Special Jurisdiction Employees, in each case except for Designated Retained Employees, pertaining to transactions contemplated by this Agreement, Seller shall provide Purchaser with a copy of the intended communication, Purchaser shall have a reasonable period of time to review and comment on the communication, and Purchaser and Seller shall cooperate in providing any such mutually agreeable communication.